Thursday, January 29, 2015

Gold will bottom when the faithful give up

I’m the world’s worst market trader and timer. Well, yeah, when there’s panic. I – we haven’t seen panic – I haven’t seen panic yet in gold. When it happens, and when you see some of the faithful throwing in the towel and say, “Gold has mistreated me. She cheated me. She lied to me. I’m never gonna touch gold again,” then that’s gonna be a – some kind of a bottom. 

But I haven’t seen that yet, and I don’t even know how visible that will be. If you watch television, you’ll probably see a lot of people giving up on gold. But I haven’t seen that happen yet.

Jim Rogers is a smart investor who co-founded the Quantum Fund with George Soros in 1973. By 1983 the fund gained more than 4000 percent.